US President Donald Trump on Tuesday announced that he has instructed the Secretary of Energy and the Secretary of Treasury to come up with a plan to make funds available for the US oil and gas industry.
“We will never let the great US oil and gas industry down,” Trump tweeted out and said that jobs will be secured “long into the future” with the new plan.
Market reaction
The S&P 500 Energy Index, which lost more than 2% in the early trade, rebounded in the last hour and was last seen down 0.55% on the day. Nevertheless, risk*aversion continues to dominate the markets with Wall Street’s main indexes falling between 1.8% and 2.45% at the time of press.
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